FTX Recovers $7.3B, Begins Recovery Efforts Months After Bankruptcy

FTX’s new leadership has recovered over $7.3 billion in assets as the bankrupt crypto exchange begins to stabilize.
FTX filed for bankruptcy in November 2022 after losing $6 billion in withdrawals in 3 days but has improved controls and accounting.
FTX's interim CEO says the “dumpster fire is out” but the exchange would need significant new investment to restart full operations.
FTX's founder, Sam Bankman-Fried, faces 13 criminal charges for improperly diverting billions of dollars from FTX to his trading firm Alameda Research.
FTX is negotiating with stakeholders about restarting the exchange in some form if enough funds can be secured and customers repaid.